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Monday, December 28, 2015

Brent Crude Oil - Ichimoku Study - Pause - Week 5 of December 2015.




Introduction / Primer to Ichimoku can be read at this link (click). 



Learning from the Earlier Study: 
(click here for the previous post)

Bulls get a pause after the new low with a green week #W2.

Gap between the Senkou Span A & B, steady #W3.
Gap between Tenkan Sen and Kijun Sen, steady #W2.

Wrap: 

After the Index makes a lower low, Bulls get a pause with a green week.



Looking Forward into this Week:


Chikou Span reflects the green week - its a long way from the price line  #W2.

Gap between the Senkou Span A & B is wide at #W3 & above the last Price point, making a thick Kumo - and a strong resistance to an up-move, when we get there #W3.
Senoku Span A & B, headed for a cross or deflection with these lines getting closer #W1.


Wrap:

Bears look to keep the index below the Tenkan Sen, and make some more lower lows #W2.
An oversold bounce or a bullish cross of the Senoku Span A & B #W3, is the next Bull hope.